Rupee Vs Dollar: Improvement is being seen in the movement of Indian Rupee today and it is showing a gain of 12 paise in the opening trade against the US Dollar. The rupee has gained 12 paise to 78.20 against the US dollar in early trade. The rupee had closed at 78.32 against the dollar in yesterday’s trade.
Why did the rupee improve its movement?
Today, the pace of withdrawal of foreign funds seems to be slowing down and its effect is seen in the form of a rise in the rupee today. Decreased demand for dollar has also supported the buying of the rupee.
Know the trick of Rs.
The rupee strengthened by 12 paise to 78.20 against the US dollar in early trade on Friday, registering a correction from its record low on softening crude oil prices.
Rupee in the Interbank Foreign Currency Exchange market
In the interbank foreign exchange market, the rupee opened at 78.20 against the US dollar, showing a gain of 12 paise over the previous closing price. In the early deals, it went up to a high of 78.19 and a low of 78.24. On Thursday, the rupee had closed at a record low of 78.32 against the US dollar.
Know the status of the Dollar Index
Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.16 per cent to 104.26. Global oil index Brent crude futures slipped 0.21 per cent to $109.82 per barrel.
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